Morgan Stanley Pays $12.5M To Settle FINRA Claims

Law360 (September 27, 2007, 12:00 AM EDT) -- Morgan Stanley & Co. has agreed to pay $12.5 million to settle allegations that the firm failed to provide e-mails and supervisory materials to regulators and claimants in arbitration proceedings.

On Thursday, the Financial Industry Regulatory Authority revealed that it had reached a settlement agreement with Morgan Stanley, putting to rest claims filed by the National Association of Securities Dealers against the firm in December. Morgan Stanley agreed to pay $9.5 million to be distributed to two groups of customers who had arbitration claims against the...
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